In bid to remake itself after pancreatic cancer flop, Halozyme acquires Antares and its drug delivery tech for $960M
After the market hibernated for much of the first quarter, things are starting to get moving as the calendar turns toward Q2. And following the big news of GlaxoSmithKline’s Sierra buyout earlier Wednesday, another biotech deal landed to give the M&A seekers something to cheer about.
Halozyme will acquire Antares Pharma for $960 million, the companies announced Wednesday morning, valuing the smaller company at $5.60 per share — a roughly 49% premium from Tuesday’s close. It’s a deal that will provide Halozyme not just with Antares’ approved drugs but its drug delivery tech, which the biotech noted in a release was a key focus.
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